Portsmouth ‘taken over’ for fourth time

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Portsmouth are believed to be under their fourth owner this season after Balram Chainrai, a Hong Kong businessman, was reported to have seized control of the club.

Chainrai had loaned the club £15 million to keep them afloat, but is frustrated by their failure to make repayments. The loans were secured against the Fratton Park stadium, future television revenue and the 90 per cent shareholding of Ali al-Faraj. After the latest deadlines were missed, Chainrai’s company, Portpin, is believed to have taken over al-Faraj’s shareholding.

“Portpin have made substantial loans to Portsmouth to try to ensure the club’s future,” Chainrai